If Congress and Obama don’t show they can “play nicely in the same sandbox,” consumer confidence would suffer and there would be a real risk of a modest recession, Schwab’s chief investment strategist says, though she still sees some silver linings post-election.

This week in new hires, MFS Investment Management welcomed Philip Stewart and promoted David Bryant; Leslie Voth was named CEO at Pitcairn; and Michael Millman joined U.S. Bank’s Private Client Reserve in San Francisco.

FINRA announced Wednesday that it had filed a complaint against Charles Schwab & Co. charging the firm had violated FINRA rules by requiring its customers to waive their rights to bring class actions against the firm.